Tax Alert: Qualifying Therapeutic Discovery Project Credits and Grants

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The enactment on March 23, 2010 of the Patient Protection and Affordable Care Act of 2010 established a 50% nonrefundable tax credit for qualified investments in qualifying therapeutic discovery projects of eligible taxpayers. The Secretary of the Treasury will, upon application by a taxpayer, provide the taxpayer with a grant of 50% of the qualified investment in lieu of the tax credit.

Please see full Alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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